Rupee Co-operative Bank Latest News: In the country, the Reserve Bank of India has ordered the closure of a co-operative bank based in Pune. The name of this bank is being told as Rupee Co-Operative Bank. Its license has been canceled from RBI. Due to non-compliance with the rules of Reserve Bank of India, orders have been received to close the Pune-based Rupee Co-operative Bank Ltd from next week. If you are a customer of this bank then you have till 22 September 2022 to withdraw your deposit. You will not be able to withdraw your money deposited in the bank after this date. This is the time for you to withdraw money from your savings bank account or FD account.
Bank license canceled
The RBI said in a statement issued on 10 August 2022 that the license of Pune-based Rupee Co-Operative Bank Limited will be canceled after 6 weeks from 10 August. The license of the bank will be canceled on September 22, 2022. After this, the customers of the bank will not be able to withdraw their money deposited in the savings account. Also, if there is a fixed deposit, then withdraw it, otherwise you will have to bear the loss.
Insurance cover of only 5 lakhs
Let us tell you that under the Deposit Insurance and Credit Guarantee Corporation Insurance Scheme, insurance of up to Rs 5 lakh deposited in banks is available. Due to this, the customers are not at risk of losing such a deposit amount if the bank goes bankrupt or its license is canceled.
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